Fabio De Jesus

Fabio is an entrepreneur who for the last several years has been selling construction materials. He also makes cement products and products from sand, metal and wire. His 4 children and wife help in this activity, and this way they earn the income that they need to support the family. The space where they have their business is not adequate and therefore they need to make the necessary adjustments to not only improve the business but also to make the space more attractive to their customers.

Due to his limited resources, Fabio had very few opportunities to go to school. He stood out for his tenacity since he was young and worked as a laborer in construction projects in the city of Medellin for many years in order to get ahead. One day, motivated by the desire to be on his own and improve the quality of life for his family, he decided to launch his own business. He works at this 12 hours a day. As he himself affirms, it is justified as this is the opportunity to increase his sales and market his own products. Little by little he can improve his future and that of his family.

Additional Information

Important Information

This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.